Longevity Pay

Longevity Pay

The higher pay one earns for remaining at the same company for a certain period of time. For example, one may receive a raise after six months, one year, two years and so forth. Proponents of longevity pay believe it encourages stability and lowers the employee turnover rate. Critics contend longevity pay discourages innovation by rewarding those who take few risks and are merely "good enough" to stay.
References in periodicals archive ?
00 in addition to their longevity pay and other allowances such as hazard pay, subsistence and quarters allowance.
longevity pay, flying pay, sea duty pay, instructor's duty pay), and would also result to higher benefits upon retirement.
Budget Secretary Benjamin Diokno earlier said the increase in the base pay would "result in increases in other allowances and bonuses that are computed as a percentage of Base Pay such as Longevity Pay (or Foggy Pay), Mid-Year Bonus, Year-End Bonus, and will effectively discontinue the grant of provisional and officers' allowances, an interim measure pending the modification of the base pay schedule.
It said the increase in base pay would also mean a consequent increases in other allowances and bonuses 'that are computed as a percentage of base pay, such as longevity pay [or foggy pay], mid-year bonus and year-end bonus.
The increase in base pay will result to increases in other allowances and bonuses that are computed as a percentage of base pay, such as longevity pay (or foggy pay), mid-year bonus, year-end bonus, and will effectively discontinue the grant of provisional and officers allowances, an interim measure pending the modification of the base pay schedule.
Janowick will also receive more than $9,800, minus deductions, in accrued vacation and personal days, as well as $900 in longevity pay.
The three-year agreement provides wage parity for Swissport ramp employees, an enhanced wage scale for aircraft groomers, an enhanced lump sum payment for Servisair ramp employees, enhanced longevity pay and improved sick time credits for Swissport employees.
Longevity pay increases from $150 to $200 for every five years of service.
Oakland County also once offered another benefit designed to retain long-term employees: longevity pay.
State employees get longevity pay - $20 per month for every two years of service - and ending that for two years would save $323 million, according to Nelson.
2) OKLAHOMA; Additional longevity pay increments include: $1,062 after